Dr. Royackers: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Dr. Royackers
Largest movements
- Cash +€248,794
up €248,794 (+141.6%), from €175,677 to €424,471
mainly Deferred charges and accrued income (+€199,477) and Net result for the year (+€155,335)
- Deferred charges and accrued income -€199,477
down €199,477 (-97.4%), from €204,893 to €5,415
- Current investments +€118,564
up €118,564 (+45.1%), from €263,100 to €381,664
- Tangible fixed assets -€58,554
down €58,554 (-17.0%), from €344,180 to €285,626
of which Land and buildings: -€33,226
- Other debts +€78,429
up €78,429 (+132.2%), from €59,348 to €137,777
- Reserves +€33,802
up €33,802 (+5.0%), from €675,919 to €709,722
- Debts after one year -€28,119
down €28,119 (-16.9%), from €165,902 to €137,783
- Trade debts +€16,238
up €16,238 (+601.8%), from €2,698 to €18,936
- Depreciation -€5,949
down €5,949 (-7.9%), from €75,368 to €69,419
- Financial income -€5,758
down €5,758 (-48.8%), from €11,810 to €6,052
- Financial charges +€5,396
up €5,396 (+183.0%), from €2,949 to €8,345
of which Financial charges: +€5,396
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €991,111 | €1,100,186 | +€109,074 | +11.0% |
| Fixed assets | 21/28 | €344,180 | €285,626 | -€58,554 | -17.0% |
| Tangible fixed assets | 22/27 | €344,180 | €285,626 | -€58,554 | -17.0% |
| Land and buildings | 22 | €279,337 | €246,111 | -€33,226 | -11.9% |
| Plant, machinery and equipment | 23 | €1,648 | €1,261 | -€387 | -23.5% |
| Furniture and vehicles | 24 | €63,195 | €38,254 | -€24,941 | -39.5% |
| Current assets | 29/58 | €646,932 | €814,560 | +€167,629 | +25.9% |
| Amounts receivable within one year | 40/41 | €3,262 | €3,011 | -€251 | -7.7% |
| Trade receivables | 40 | €3,262 | €3,011 | -€251 | -7.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €263,100 | €381,664 | +€118,564 | +45.1% |
| Cash at bank and in hand | 54/58 | €175,677 | €424,471 | +€248,794 | +141.6% |
| Deferred charges and accrued income | 490/1 | €204,893 | €5,415 | -€199,477 | -97.4% |
| Total equity and liabilities | 10/49 | €991,111 | €1,100,186 | +€109,074 | +11.0% |
| Equity | 10/15 | €688,319 | €722,122 | +€33,802 | +4.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €675,919 | €709,722 | +€33,802 | +5.0% |
| Distributable reserves | 133 | €675,919 | €709,722 | +€33,802 | +5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €302,792 | €378,064 | +€75,272 | +24.9% |
| Amounts payable after more than one year | 17 | €165,902 | €137,783 | -€28,119 | -16.9% |
| Financial debts | 170/4 | €165,902 | €137,783 | -€28,119 | -16.9% |
| Amounts payable within one year | 42/48 | €133,965 | €237,356 | +€103,391 | +77.2% |
| Current portion of amounts payable after more than one year | 42 | €26,868 | €28,119 | +€1,251 | +4.7% |
| Trade debts | 44 | €2,698 | €18,936 | +€16,238 | +601.8% |
| Suppliers | 440/4 | €2,698 | €18,936 | +€16,238 | +601.8% |
| Taxes, remuneration and social security | 45 | €45,051 | €52,524 | +€7,473 | +16.6% |
| Taxes | 450/3 | €28,436 | €38,908 | +€10,473 | +36.8% |
| Remuneration and social security | 454/9 | €16,616 | €13,616 | -€2,999 | -18.1% |
| Other amounts payable | 47/48 | €59,348 | €137,777 | +€78,429 | +132.2% |
| Accrued charges and deferred income | 492/3 | €2,925 | €2,925 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €98,507 | €98,330 | -€178 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,368 | €69,419 | -€5,949 | -7.9% |
| Other operating charges | 640/8 | €3,358 | €3,495 | +€136 | +4.1% |
| Gross operating margin | 9900 | €400,948 | €400,627 | -€321 | -0.1% |
| Operating profit (loss) | 9901 | €223,715 | €229,384 | +€5,669 | +2.5% |
| Financial income | 75/76B | €11,810 | €6,052 | -€5,758 | -48.8% |
| Recurring financial income | 75 | €11,810 | €6,052 | -€5,758 | -48.8% |
| Financial charges | 65/66B | €2,949 | €8,345 | +€5,396 | +183.0% |
| Recurring financial charges | 65 | €2,949 | €8,345 | +€5,396 | +183.0% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | €232,576 | €227,091 | -€5,485 | -2.4% |
| Income taxes | 67/77 | €69,175 | €71,756 | +€2,581 | +3.7% |
| Profit (loss) for the period | 9904 | €163,401 | €155,335 | -€8,066 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €163,401 | €155,335 | -€8,066 | -4.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.